How to use checkbox with nested IF and AND statement

[UtahMan]

Hello, 

I'm trying to create a formula that will return "Check Other Income" if the Contract * .25 > Other income and if Other Income Verified is checked it will return "Income Verified"

This is how I have written the formula:

IF({Other Income} > (Contract

* .25), "Check Other Income", IF(AND({Other Income} > (Contract

* .25),{Other Income Verified} = 1) , "Income Verified", ""))

No errors returned, I can get it to say "Check Other Income", but the second half of the formula that has to do withe the checkbox is not returning "Income Verified. 

Can anyone help me figure out why?

Thank you!

[TheTimeSavingCo]

Try:

IF(
	AND(
		{Other Income} > (Contract * .25),
		{Other Income Verified} = 1
	), 
	"Income Verified", 
	IF(
		{Other Income} > (Contract * .25), 
		"Check Other Income", 
	)
)